Morris Township & Convent Station, NJ Real Estate Sales

Morris Twp and Convent Station, NJ .... 2006 ...vs... 2007
Number of homes/condos sold .... 334 ...... 315
Average sales price .... $647,121 ...... $647,316
Median sales price .... $625,000 ......$560,000
Average sales to list price .... 97% ...... 97%
Average days on the market .... 65 ...... 70
Highest sales price .... $1,900,000 ...... $1,932,000
Number of homes sold over $1 million .... 27 ...... 38

Although there are some slight variations from year to year, basically the real estate market for Morris Twp, NJ remains strong. This information also shows, in my opinion, that the market for luxury homes is quite strong. The real estate for sale signs you see lingering out there, are of sellers who are too optimistic about the value of their homes. Prices are stagnant and buyers have lots to choose from. Well-priced properties in good condition still command a strong sales price.